Financial Action Task Force (FATF)

What is the consequence of a country being placed on the FATF 'Black List' (High-Risk Jurisdictions Subject to a Call for Action)?

MCQ

MCQ Answer

A. A mandatory UN Security Council resolution.
B. A call for all countries to apply enhanced due diligence and, in the most serious cases, counter-measures to protect the international financial system. Correct

Explanation

The Black List is reserved for countries that pose the most significant risk and are non-cooperative.

C. Mandatory expulsion from the United Nations.
D. A travel ban on all its citizens.

Correct Answer

A call for all countries to apply enhanced due diligence and, in the most serious cases, counter-measures to protect the international financial system.